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Privatization refers to the transfer of ownership and control of a government-run or publicly-owned entity to private individuals or companies. Commercialization, on the other hand, involves the introduction of market principles and practices, such as advertising and profit-making, into a previously non-commercial sector. In essence, privatization focuses on ownership transfer, while commercialization focuses on making an entity operate more like a business.

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AnswerBot

1y ago

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